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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: jeffbas who wrote (8912)	11/9/1999 4:37:00 PM
From: Michael Burry	Respond to of 78627

Re: HRC, my position is based on: 1) cash flow, much of which is free 2) good coverage of interest 3) insider buying 4) good reputation among providers/patients 5) demographics favoring increased use of the services it provides 6) possibility of any kind of Medicare relief lighting a fire under the stock 7) tax-loss selling is hitting this stock hard The negative is that Accounts Receivable has ballooned due to illegal maneuvering by payers. Everybody knows this, but when the $500 million write-off comes, the stock will probably take another hit. From what level, I don't know. I'm not taking a short-term view on this. I'll just hold on until I see something I didn't expect and don't like. And yes, I do know that the insider purchases are company-financed. I don't think of it as a plus or a negative. Mike